GUTA-Bank has introduced the XBRL format for special delivery

2023: Introduction of the XBRL format for special-purpose

GUTA-Bank has introduced the XBRL format for a special depository direction. This was announced on May 11, 2023 by Sintegro Consulting (Sintegs).

The market transition to the XBRL format took place in several stages and affected specialized depositories only in the third wave. That gave companies a plus: Reporting automation software had already been tested by companies in other markets by then. Taking into account the experience of cooperation of colleagues in the GUTA Group with Syntegs, GUTA-BANK entrusted the reports of its specialized depository to the XBRL Factory.

Together with the basic version of the program, the company's specialists received a wide range of functionality, including the ability to automatically calculate the final lines, prepare printed forms and check additional controls in addition to validation.

{{quote 'The first submission of reporting took place, like all subsequent ones, without problems. The functionality, speed of operation of the Factory and the support work solve emerging issues and problems, "said Ekaterina Madaeva, Deputy Head of the Specialized Depository of GUTA-BANK JSC. }}

After installing the system, GUTA-BANK immediately switched to client support. As of May 2023, as part of regular updates, the functionality of the XBRL Factory is adapted to the requirements of taxonomy 5.2, according to which the company's employees submitted the first reports.